Canada’s economy added a net 46,700 jobs in September, more than forecast, while the jobless rate unexpectedly decreased for the first time in 8 months to 6.5%, data showed on Friday.
Britain’s economy now looks on track for a third consecutive quarter of economic growth. The ONS said data for September GDP would need to show a month-on-month fall of 0.3% to 0.6% to generate a flat quarterly reading, assuming no revisions to existing figures.
That said, for the week, both benchmarks were headed for gains of around 1%, the second straight positive week, with oil markets remaining supported by concerns over an escalation in Israel’s conflicts with both Hamas and Hezbollah.
Bitcoin’s price fell on Friday, facing increased pressure from concerns over more regulatory action, while hotter-than-expected U.S. inflation data also weighed amid bets on smaller rate cuts.
Bank results offer an important view into the economy, including the strength of demand for loans. Investors will also be on the lookout for signs of whether the Fed’s large rate cut last month is already influencing the economy through rising auto sales or the purchase of other big-ticket items.
